BANKING & FINANCE - Jan. 23, 1992

Conseco Agrees to Acquire Bankers Life: Conseco Inc. will pay $600 million for Chicago-based Bankers Life & Casualty Co. and a subsidiary of ICH Corp. The agreement also calls for Conseco, an insurance and financial services holding company, to manage $1 billion in investments at other ICH subsidiaries. The deal is expected to be completed during the second quarter. Bankers Life, based in Chicago, has $1.5 billion in assets. The subsidiary included in the deal, Certified Life Insurance Co. of Granada Hills, has $125 million in assets.